RBI Imposes ₹1 Lakh Penalty on Bank of Baroda Over Soiled Note Remittance Shortage
Mumbai, 13 March 2026: Bank of Baroda has informed stock exchanges that the Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1 lakh on the bank following a compliance-related issue linked to currency remittance.
According to the disclosure filed with the BSE Limited and the National Stock Exchange of India Limited, the central bank imposed the penalty after a shortage of notes was detected in a soiled note remittance (SNR) during preliminary verification.
RBI Order Received on March 12
Bank of Baroda stated that it received the RBI communication on March 12, 2026. The penalty relates to discrepancies identified during the remittance process of soiled currency notes to the central bank.
The bank clarified that the financial impact is limited to the penalty amount, which will be reflected in the bank’s profit and loss account.
Regulatory Disclosure to Stock Exchanges
The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires listed companies to inform exchanges about regulatory actions or penalties.
Limited Financial Impact
Despite the penalty, the bank indicated that the amount involved is relatively small and does not materially impact its overall financial operations, apart from the ₹1 lakh charge to its accounts.
Bank of Baroda, headquartered in Mumbai, is one of India’s leading public sector banks with a large domestic and international banking network.